Colgate-Palmolive Company (NYSE:CL), the consumer products giant that makes Colgate toothpaste and Ajax household cleaner, posted modest gains in fourth-quarter profit and sales as higher selling prices and an increase in the volume of goods sold helped offset more expensive commodities.

The New York City-based consumer products giant on Thursday reported a 1.4 percent increase in fourth-quarter earnings to $598 million, or $1.26 per share, on sales of $4.29 billion, a 2.7 percent revenue gain.

Analysts polled by Thomson Reuters expected, on average, EPS of $1.40 on sales of $4.31 billion.

The company was able to increase its prices 2.5 percent, and its unit volume climbed 1.5 percent.

CEO Ian Cook said the company improved its worldwide market share, expanded its gross margins, hiked commercial spending.

β€œIt was another year of healthy top-line growth as well, with organic sales increasing 6 percent, led by the emerging markets where organic sales grew a robust 10 percent.”

Shares fell 2 percent in premarket trading.